§ 80106 - Distribution of assets on dissolution

CHAPTER 801— GENERAL FEDERATION OF WOMEN’S CLUBS

On dissolution of the corporation, the board of directors shall liquidate and distribute its assets to organizations qualified as exempt organizations under section 501(c)(3) of the Internal Revenue Code of 1986 (26 U.S.C. 501(c)(3)) with purposes similar to those of the corporation.

Notes

Historical and Revision Notes RevisedSectionSource (U.S. Code)Source (Statutes at Large) 8010636:3501(c).Mar. 3, 1901, ch. 860, § 1(c), as added Aug. 7, 1986, Pub. L. 99–376, § 1(3), 100 Stat. 804.